Acquisition of Kamsarmax Newbuilding contracts, sale of vessel and long term time charter contract

Golden Ocean Group Limited is pleased to advise that the Company has declared the options to purchase two Kamsarmax vessels at Zhoushan Jinhaiwan Shipyard (Jinhaiwan) in China.

The vessels of 80,000 dwt will be delivered during 2011 and are “sister vessels” of the series ordered in October 2007. The delivered cost for the vessels is estimated to be about $52 million per vessel.